]]>On 12 February, Euroports signed a €435m “amend-and-extend” of its existing group senior debt facilities, with the borrower being Euroports Netherlands BV. The senior debt facilities comprise of:

a €380m term loan facility in two tranches, used to refinance existing debt;

a €30m capex facility, to be used to finance capital expenditure; and

a €25m revolving facility, to be used for working capital purposes.

The new facilities have a contractual maturity of 30 July 2020 and extend the maturity of Euroports’ existing senior debt facilities by two years. Additional fixed rate interest rate swaps were also entered into by the borrower to cover the additional two year tenor in line with the hedging requirements.

As a result of the attractive borrowing environment, Arcus worked with the other shareholders and management of Euroports to “amend-and-extend” the existing group senior debt facilities, with the support of the majority of the existing lenders, with non-consenting lenders being replaced by upsizing existing and new lenders. This resulted in a cost-effective and efficient process. Key objectives were achieved, including extending the maturity, c. 100bps margin reduction (across the maturity profile), and increasing covenant headroom to create additional operational flexibility for Euroports. Both Arcus and Euroports are very pleased with the outcome of the process.

Euroports was supported by BNP Paribas and Lloyds Bank on the refinancing and consent process.

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.

]]>Euroports Netherlands B.V. (“Euroports”) has successfully completed a €450m group refinancing, comprising €395m term loans and €55m capex & working capital facilities. All facilities have five‐year tenors. There was very strong market appetite for the transaction which allowed Euroports to secure competitive terms from lenders/institutions which, at closing, included BBVA, Belfius, BNP Paribas Fortis, Deutsche Bank, HSH Nordbank, Lloyds, Natixis, MetLife, Sabadell, Santander and SEB. Clifford Chance were legal advisors to the lenders, with Freshfields, Deutsche Bank and BNP Paribas advising Euroports. Hedge co‐ ordinators on the new swaps were Deutsche Bank and Lloyds with Lloyds also awarded the agent bank role on the transaction.

The completion of the group refinancing is a significant milestone for Euroports and will significantly reduce the current cost of debt for the Euroports group. Euroports’ strategy is to position the business to access the capital or private placement markets for a refinancing well in advance of the maturity of the new facilities.

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.

]]>https://www.arcusip.com/portfolio-news/euroports-successfully-completes-e450m-group-refinancing/feed/0Euroports takes full control of Manuport Logistic NVhttps://www.arcusip.com/portfolio-news/euroports-takes-full-control-manuport-logistic-nv/
https://www.arcusip.com/portfolio-news/euroports-takes-full-control-manuport-logistic-nv/#respondWed, 03 Jul 2013 12:11:48 +0000http://arcus.irstaging.com/?p=869Euroports has acquired the remaining 25% interest in MPL, a subsidiary of the Euroports Group which operates the freight forwarding business. Euroports now owns 100% of MPL.DISCLAIMER This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any […]

]]>Euroports has acquired the remaining 25% interest in MPL, a subsidiary of the Euroports Group which operates the freight forwarding business. Euroports now owns 100% of MPL.

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.

]]>https://www.arcusip.com/portfolio-news/euroports-takes-full-control-manuport-logistic-nv/feed/0Euroports sells Euroports Containers Meerhout NVhttps://www.arcusip.com/portfolio-news/euroports-sale-ecm/
https://www.arcusip.com/portfolio-news/euroports-sale-ecm/#respondFri, 17 May 2013 11:59:20 +0000http://arcus.irstaging.com/?p=859Euroports has recently sold to Inland Terminals (the “Buyer”), its subsidiary Euroports Containers Meerhout NV (“ECM”), which operates the inland container terminal in Meerhout on the Albert canal (an artificial waterway between Liege and Antwerp) in Belgium. The decision to sell ECM by the Shareholders was made in accordance with the business plan objectives of simplifying the Euroports business and […]

]]>Euroports has recently sold to Inland Terminals (the “Buyer”), its subsidiary Euroports Containers Meerhout NV (“ECM”), which operates the inland container terminal in Meerhout on the Albert canal (an artificial waterway between Liege and Antwerp) in Belgium.

The decision to sell ECM by the Shareholders was made in accordance with the business plan objectives of simplifying the Euroports business and focussing on the deep sea ports business.

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.

]]>https://www.arcusip.com/portfolio-news/euroports-sale-ecm/feed/0Euroports Acquires Full Control of SHRUhttps://www.arcusip.com/portfolio-news/euroports-acquires-full-control-shru/
https://www.arcusip.com/portfolio-news/euroports-acquires-full-control-shru/#respondTue, 02 Oct 2012 11:50:34 +0000http://arcus.irstaging.com/?p=846Euroports has acquired the remaining 50% of Seehafen Rostock Umschlagsgesellchaft mbH (“SHRU”), the Port of Rostock, Germany, from Euroports’ local joint venture partner. Euroports is now sole owner of SHRU. Following this successful acquisition, SHRU will be fully integrated into the wider Euroports portfolio, resulting in significant benefits in terms of costs and commercial synergies. The increased exposure to the […]

]]>Euroports has acquired the remaining 50% of Seehafen Rostock Umschlagsgesellchaft mbH (“SHRU”), the Port of Rostock, Germany, from Euroports’ local joint venture partner. Euroports is now sole owner of SHRU.

Following this successful acquisition, SHRU will be fully integrated into the wider Euroports portfolio, resulting in significant benefits in terms of costs and commercial synergies. The increased exposure to the German economy resulting from the follow on investment in SHRU, will reinforce Euroports’ position as a pan‐European general cargo and dry bulk port operator.

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.

]]>https://www.arcusip.com/portfolio-news/euroports-acquires-full-control-shru/feed/0Euroports Benelux successfully refinances €264m debt facilitieshttps://www.arcusip.com/portfolio-news/euroports-benelux-successfully-refinances-e264m-debt-facilities/
https://www.arcusip.com/portfolio-news/euroports-benelux-successfully-refinances-e264m-debt-facilities/#respondWed, 10 Nov 2010 11:39:25 +0000http://arcus.irstaging.com/?p=785On 9 November 2010, the refinancing of €264 million of debt facilities in respect of Euroports Benelux business was successfully completed. Euroports Benelux owns the terminals at Antwerp, Liege, Ghent Rouen and Changshu and is one of the main subsidiaries of Euroports. The company has agreed an extension of three years to November 2013 of the maturity of the debt […]

]]>On 9 November 2010, the refinancing of €264 million of debt facilities in respect of Euroports Benelux business was successfully completed. Euroports Benelux owns the terminals at Antwerp, Liege, Ghent Rouen and Changshu and is one of the main subsidiaries of Euroports.

The company has agreed an extension of three years to November 2013 of the maturity of the debt facilities and related swap arrangements with the existing group of lenders (Commerzbank, Dexia, Lloyds Banking Group and ING).

DISCLAIMER

This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.